Middle East & Africa Low Voltage Drives Market
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Middle East & Africa Low Voltage Drives Market was calculated at USD 783.1 million in 2023 and is envisioned to attain a CAGR of 4.1% through 2032. Growing automation across various industrial applications along with increasing development of infrastructure is set to complement the industry landscape.
Favorable regulatory measures for liming emissions and flourishing investments for the industrial development will further influence the business dynamics. For instance, in April 2024, the Authority for Industrial Cities and Technology Zones, Saudi Arabia declared that the logistics and industrial investments reached USD 3.85 billion, a rise of 63% in 2023. Moreover, growing opportunities for renewables and the stabilizing economy along with manufacturers prioritize cost-competitiveness, will further influence the industry's outlook.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Middle East & Africa Low Voltage Drives Market size in 2023: | USD 781.3 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 4.1 |
| 2023 Value Projection: | USD 1.1 Billion |
| Historical Data for: | 2021 to 2023 |
| No of Pages: | 70 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Power Range, Capacity, Drive, Technology, System, Application, End-Use, and Country |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The Middle East & Africa low voltage drives industry is anticipated to witness substantial growth owing to rising demand for electricity capacity expansion driven by rapid urbanization and industrial development and increased infrastructural expenditure. For instance, in April 2024, the UAE government approved the Federal Energy Management Regulation for industrial facilities, focusing on reducing 33% energy demand from industries and decline of 63 Mt carbon emissions by 2050.
The regulation is also expected to generate AED 14 billion in financial savings by 2050, enhance energy efficiency, promote investments in advanced technology and operational excellence. Furthermore, ongoing expansion of clean energy generation, increasing industrial investments, and expenditures for infrastructure development and favorable governmental policies, will drive the industry growth.
The low voltage segment is anticipated to grow over USD 680 million by 2032. The increasing focus on industrial automation, energy efficiency, and technological advancements is anticipated to drive industry growth. The rising demand for efficient and cost-effective solutions across various sectors, coupled with a greater emphasis on energy efficiency, will boost product demand. In addition, government initiatives and incentives promoting energy efficiency and offering financial benefits to manufacturers investing in these technologies will further shape the low voltage drives business landscape.
AC Drives segment is anticipated to witness over 4% CAGR through 2032. Ongoing technological advancements in AC drives, such as the integration of smart features and IoT capabilities, have improved performance and functionality, leading to increased product demand. Flourishing investments in industrial automation and the implementation of Industry 4.0 with advanced robotics and technologies are set to enhance the business landscape. Additionally, the adaptability and scalability of these devices enables them to be suitable for a wide array of applications, ranging from small-scale operations to large industrial facilities, further boosting the low voltage AC drives industry outlook.
Saudi Arabia low voltage drives market is set to surpass USD 200 million by 2032. Increasing adoption of low voltage drives to enhance energy efficiency and optimize operations is anticipated to shape the industry dynamics. Growing inclination toward energy conservation, reducing emissions and adoption of renewables is driving the demand for reliable solutions.
For instance, Saudi Arabia aims to achieve 50% of its power from renewable sources by 2030. In addition to transforming its domestic energy mix, Saudi Green Initiatives is pursuing ambitious initiatives to reduce emissions through investments in new energy sources and enhancing energy efficiency. Moreover, push towards digital transformation and Industry 4.0 has led the integration of IoT platforms further augmenting the business landscape.
Key players operating across the Middle East & Africa low voltage drives industry are focusing on making strategic alliances, contracts, collaborations, and introducing innovative technologies to enhance their competitiveness over their counterparts. Major industry participants including ABB, Schneider Electric, Yaskawa Electric Corporation, Fuji Electric Co. Ltd., Siemens, and Rockwell Automation among other, holds majority of the market share backed by their wide geographical footprint and advanced product portfolio.
Major manufacturers operating across the industry consists of:
Market, By Power Range
Market, By Capacity
Market, By Drive
Market, By Technology
Market, By System
Market, By Application
Market, By End-Use
The above information has been provided for the following countries:
ABB, Bosch Rexroth, Danfoss, Delta Electronics, Inc, Eaton, Emerson Electric Co., and Fuji Electric. Co., Ltd., among others
MEA low voltage drives market size was USD 783.1 million in 2023 and may observe 4.1% CAGR from 2034-2032 due to growing automation across various industrial applications along with increasing development of infrastructure
Saudi Arabia low voltage drives industry size is set to surpass USD 200 million by 2032 owing to the rising trend for the adoption low voltage drives across various industries to enhance energy efficiency and optimize operations in the country
Middle East & Africa low voltage AC drives market is projected to witness over 4% CAGR from 2024-2032 owing to integration of smart features and IoT capabilities, have improved performance and functionality